- Madhya Pradesh state government in India is reported to be in the process to approve extension of a state guarantee for 750 MW capacity solar power park in the district of Rewa
- Being developed as an 'ultra-mega' solar project, the park is claimed to be the largest single site solar power project in the world
- Madhya Pradesh Power Management Company and Delhi Metro Rail Corporation will purchase power produced at the solar park
- Project is supported by International Finance Corporation, Clean Technology Fund and Government of Australia
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The state government of Madhya Pradesh is reported to be extending a state guarantee to the Rewa Ultra Mega Solar Energy Park, with the state cabinet set to approve the guarantee soon. The 750 MW capacity park is being developed by Rewa Ultra Mega Solar Ltd (RUMS), a joint venture between the Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL).
The Rewa solar power park is being touted as the largest single site solar power project in the world. However, there is also a 1 GW project – the Quaid-e-Azam solar power park – under development in Pakistan of which 100 MW has been built so far and around 400 MW are expected to finished by the end of the year.
The total estimated investment on the Rewa Ultra Mega Solar Energy Park is around 75 billion INR ($1.12 billion). Around 80% of the solar power will be bought by the Madhya Pradesh Power Management Company (MPPMC), while the Delhi Metro Rail Corporation (DMRC) will get 121 GWh from each of the three units. In March, the state government had invited tenders to develop the park. The total capacity was divided among three projects – each ground mounted PV power plant will have a capacity of 250 MW.
Land for the projects will be provided by RUMS, 90% within 30 days of signing the power purchase agreement (PPA) with the developers and the remaining 10% within next three months.
The state of Madhya Pradesh is targeting a solar power capacity of 5,675 MW by 2022.
Reporting the development, Indian business daily Business Standard wrote that the state is expected to invite a formal request for proposal by September 2016. Speaking to the daily, RUMS Chairman Manu Srivastava said that the project is set to get loans from the World Bank and the Clean Technology Fund. It is also supported by the Department of Foreign Trade, Government of Australia. The International Finance Corporation (IFC) will help attract private investments of about $750 million for the project.
The Power Grid Corporation Limited (PGCL) is constructing its transmission substation within the project boundary.